Apple becomes first U.S. trillion dollar company

"The tendency of so many people in tech to presume an Apple product will fail because it makes choices that they wouldn't have made is one of Apple's greatest competitive advantages", Evans said in a missive fired off on Twitter.

Trip Miller, managing partner at Gullane Capital LLC in Memphis, said Apple "should trade much higher". It was the time when the co-founder of the company, who was literally shown the door by the board mere few years before, chose to come back to turned the table by showing an exponential degree of commitment and confidence. Cook sent a memo to company staff reminding them that, while reaching $1 trillion is a "significant milestone", it is not the most important measure of Apple's success.

It's only taken Apple 42 years to get almost as big as Canada. The firm quickly returned to profitability.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook.

Apple just wouldn't be Apple without his name behind it. Still, it's a staggering sum - a trillion is equal to a million squared - and a first for a US-based company. Competitors such as Nokia and Blackberry, which had dominated the mobile phone market, were quickly knocked out.

Moreover, Apple's bottom line is still largely determined by their sales.

Apple's best Q3 results ever were driven by strong sales of iPhones as well as a massive increase in revenue it gets for its services.

Part of the argument against a company hitting a trillion dollars in market value - and staying there - is finance's so-called law of large numbers.

He added: "You can't connect the dots looking forward; you can only connect them looking backward".

In the three months to June this year, Apple's services saw revenue growth of 31%. And it's going to generate vast returns for Apple's shareholders.

After his death, analysts and other industry watchers wondered whether the company would lose its ability to wow the world with "the next big thing".

But the phenomenal success of the iPhone led competitors to mirror certain features like touch-screens featuring rows of colorful icons - and prompted Apple to pursue those competitors in court.

Apple has also diversified the sources of its profits.

Still, even if it's only a temporary achievement, it's an achievement nonetheless, especially given the fact that other tech companies have seen their values stagnate or outright fall recently.

Apple's share price has risen 22 per cent in 2018, eclipsing the US$200 mark earlier this year and valuing the company at more than $US1 trillion. This year, it was valued at $182.8bn.

For those of us born before the turn of the millennium, it's probably hard to imagine a world without Coca-Cola signs somewhere along our local shopping streets. He's right. It's extremely hard to avoid comparing Apple's good fortunes with the recent slump at Facebook, which can be crudely summed up as the result of the social network's user-exploiting ways catching up with it.

Apple has fought myriad patent battles with rivals, particularly South Korean consumer electronics colossus Samsung, arguing that its product design is as much its intellectual property as the hardware and software. Their whole brand is about humanising technology.

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